Day: November 14, 2023

New figures show hardly anyone is using ERC-4337 smart accounts

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Ethereum account abstraction advocate John Rising has shared some “sobering” numbers showing overall ERC-4437 adoption has been far from ideal.  In a Nov. 14 post on X (formerly Twitter), Rising shared data points that showed ERC-4337-enabled smart accounts suffered a decline in users, low transaction activity and poor operational costs for core infrastructure providers. The ERC-4337 standard was launched through a surprise March 1 announcement at WalletCon in Denver. At the time, many were optimistic that ”smart accounts” would witness rapid adoption as the tech allows users to bypass the…

Analysts predict Rebel Satoshi will upstage PEPE and The Sandbox in 2024

Market analysts bullish on Rebel Satoshi. Experts anticipate a 100% surge for PEPE in 2024, aligning with the broader crypto market. Analysts predict The Sandbox (SAND) will cross the $0.8 price mark in 2024. PEPE recently announced that it has burned 6.9 trillion PEPE worth $6 million. Meanwhile, The Sandbox (SAND) has welcomed the second season of School of Block from Ledger. At the same time, Rebel Satoshi is firm and may rally in the coming days. Rebel Satoshi is challenging the status quo Rebel Satoshi is a new meme coin that…

Crypto investment products see surge amid ETF proposals

CoinShares reports a $293 million surge in crypto investments, hitting $1.14 billion. The rise is attributed to the potential listing of a spot-based Bitcoin ETF. Looking at the last two weeks, the European crypto asset manager suggests this is a real turnaround in sentiment, which may result from the recent spot-based ETF listing request. The CoinShares report, dated Nov. 13, highlights that digital asset investment products saw inflows of $293 million, extending the consecutive run to seven weeks and surpassing the $1 billion milestone. The total amount now stands at…

FTX Foundation staffer fights for $275K bonus promised by SBF

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An employee of FTX’s charity wing recruited by FTX co-founder Sam Bankman-Fried is trying to get paid $275,000, the remainder of his claimed 2022 salary bonus. Ross Rheingans-Yoo’s lawyers argued in a Nov. 13 court filing that only $375,000 of his $650,000 bonus was paid by FTX. They claim the remaining funds were owed when the crypto exchange filed for bankruptcy in November 2022. Rheingans-Yoo’s latest filing comes in response to FTX’s objection filed on Oct. 30. Excerpt of Ross Rheingans-Yoo’s Nov. 13 response to FTX Debtor’s objection. Source: Kroll…

Genesis and 3AC reach $33m settlement in billion-dollar claim

Genesis agrees to a $33 million settlement with Three Arrows Capital, significantly less than the original $1 billion claim, amid ongoing crypto turmoil. Bankrupt crypto lender Genesis has consented to a settlement with the now-defunct crypto hedge fund Three Arrows Capital (3AC), culminating in a $33 million payment against a staggering $1 billion claim. This development, revealed through court documents, underscores the volatility and the inherent risks in the crypto market. The settlement, a product of “extensive negotiations,” is still pending approval from a New York bankruptcy court. The downfall…

Ethereum Bulls May Propel Price To $3,100, Analyst Suggests

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Ethereum (ETH), the second-largest cryptocurrency, has seen a significant price increase over the past month. The recent bullish rush in the crypto market, coupled with BlackRock’s involvement, has pushed ETH to its year-to-date high of $2,139. Ethereum Outshines Bitcoin And Altcoins According to market data provider Kaiko, ETH has outperformed BTC and many altcoins in recent weeks, signaling a shift in market dynamics. Kaiko’s report highlights how ETH struggled to gain momentum over the past year, despite successful upgrades such as The Merge in April.  However, the sentiment around ETH…

Elon Musk AI project inspired memecoin ‘Grok’ falls 74% on creator scam claim

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The price of a memecoin drawing its namesake from Elon Musk’s artificial intelligence project “Grok” plummeted over 70% after blockchain sleuth ZachXBT alleged the token’s social media account was recycled from a scam token project. In a Nov. 13 X (formerly Twitter) post, ZachXBT shared screenshots showing various social media accounts and websites tied to the Grok (GROK) token were repurposed from old projects — including an abandoned memecoin project called ANDY — which has significantly declined from its all-time high. Not that people in this space will care but…

Is An Ethereum Mega Rally Incoming?

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Ethereum prices are firm at spot rates, still trading above the $2,000 level, and multiple other factors point to possible trend continuation. According to Kaiko’s data on November 12, not only is the ETH-BTC ratio shifting and reversing after extended periods of lower lows, but also there is a notable uptick in trading volume with funding rates in crypto derivative platforms shifting from negative to positive, suggesting increasing demand. ETHBTC ratio | Source: Kaiko Ethereum Breakout Above $2,000 As of writing on November 13, Ethereum is relatively firm and changing hands…

GROK whales decry supposed FUD from crypto sleuth ZachXBT

The market cap of AI-inspired altcoin $GROK fell sharply on Nov. 13 after well-known blockchain investigator ZachXBT tied its creator to previous possible scams. Supporters of a Grok token, $GROK, banded together in the wake of aspersions surrounding the project and its developer, who has supposedly created other cryptocurrencies in the past.  According to on-chain sleuth ZachXBT, the project’s X account was previously used to promote crypto tokens that may or may not have been scam efforts. The independent investigator pointed to the account’s ID as evidence for their assertion. …

GROK Memecoin Faces 40% Drop As Expert Exposes Scammer’s Involvement

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Grok (GROK) token, inspired by Elon Musk’s artificial intelligence service through X (formerly Twitter), has recently come under scrutiny following explosive growth in market capitalization.  According to recent reports, Grok zoomed to a staggering $160 million market cap within just eight days of its release. However, reports of alleged scam involvement have overshadowed the token’s rapid ascent. GROK Meteoric Rise Marred By Scammer Accusations Grok token prices have soared, doubling within the past 24 hours alone, extending a week-long rally that has seen an astonishing 13,000% increase. The token boasts…